SEBRING, Ohio, Aug 13, 2003 -- Marx Toys And Entertainment Corp. (OTCBB: MRXT), announced that its revolutionary new toy line will be called "IM Buddies". The Buddies not only will enhance users of America Online's Instant Messenger Service (AIM), but will make their online experience much more entertaining. Marx will be the exclusive retail distributor of the new toy called "IM Buddies", which is developed by United Internet Technologies (UIT), a Division of United Leisure Corporation. Marx entered into a Licensing Agreement with UIT and paid the company an initial fee of $75,000. The Agreement sets forth additional payments in excess of $1,000,000 over of the next three years. Earlier this week, Marx announced its first order of 10,000 IM Buddy units. The toy, which can be viewed at AOL Keyword "IM BUDDIES", will sit on top of one's computer monitor and verbalize the user's incoming messages through UIT's advanced "text to speech" technology in the actual character's voice. The Buddies' multifunctional capabilities will also include reading stories and playing a handful of online games.
The first two interactive buddies will be Bugs Bunny and Daffy Duck, both from the Warner Bros. Looney Tunes family. AOL, (NYSE: AOL), which test marketed the line using these characters earlier this year, sold out during their popup ad marketing campaign. AOL is said to have an estimated 27,000,000 members in the United States alone.The IM Buddies will get a boost by the upcoming movie, Looney Tunes: Back in Action. The Film will be in theaters November 14, 2003, just in time for the holiday shopping season. This will be the first Looney Tunes film since Space Jam in which they combine animation with live-action. Bugs Bunny, Daffy Duck and the rest of the gang are blended with Hollywood stars such as Steve Martin, Brendan Fraser and Jenna Elfman.
About Marx Toys And Entertainment Corp.
Marx Toys And Entertainment Corp. manufactures and markets interactive toys and reissued collectible toys, along with classic games, play sets and ride along toys. Marx's vintage originals are highly collectible amongst hobby enthusiasts. Marx branded toys are sold at more than 400 toy and hobby retailers across the U. S. and has a rich history dating back to 1928. To read more on this history, visit http://www.marxtoys.com. In late July, Marx acquired a software company, AZtor Corporation. More info is at http://www.aztor.com
About United Leisure Corp.
United Leisure Corporation, through its subsidiary United Internet Technologies, develops technologies that allow a variety of electronic devices and consumer electronics to communicate and be controlled over the Internet and over other digital systems. The Company's technologies include intelligent control interactive technology and digitally integrated video overlay. Visit them on the web at http://www.uitlive.com
About AOL Time Warner
AOL Time Warner Inc., (NYSE: AOL) is a global company delivering entertainment, news, and Internet brands across converging media platforms. The Company conducts operations in cable systems, interactive services, publishing, music, cable networks, and filmed entertainment. AOL Time Warner's brands include Time Warner Cable, HBO, Turner, America Online, WB, CNN, New Line Cinema, and Time Inc.
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: Except for historical information, all of the statements, expectations and assumptions contained in the foregoing are forward-looking statements that involve a number of risks and uncertainties. It is possible that the assumptions made by management are not necessarily the most likely and may not materialize. In addition, other important factors that could cause actual results to differ materially include the following: business conditions and the amount of growth in the Company's industry and general economy; competitive factors; ability to attract and retain personnel; the price of the Company's stock; and the risk factors set forth from time to time in the Company's SEC reports, including but not limited to its annual report on Form 10-KSB; its quarterly reports on Forms 10-QSB; and any reports on Form 8-K. Marx Toys And Entertainment Corp. takes no obligation to update or correct forward-looking statements.
